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All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200
Kansas City, Missouri 64112
Single-Tenant Triple Net Leased Investment REAL ESTATE FOR SALE - NEW LISTING
3911 Bolger RoadKansas City (Independence), MissouriNWC of I-70 & 291 Highway
Property is located at the only entrance drive to
Walmart Supercenter, Sam’s Club, and Petsmart
Sales Price: $3,650,000Cap Rate (Initial): 6.76%Cap Rate (as of 9/1/15): 7.43%NOI (initial): $246,688NOI (as of 9/1/15): $262,106Building Size: 15,418 sq ftLand Size: 64,340 sq ft
Investment Summary
John Cobb 816.412.7326
David Block 816.412.7400
For information contact:
11 YEARS REMAINING ON
CURRENT LEASE TERM!
EXCLUSIVE AGENTS
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Investment SummarySales Price: $3,650,000Cap Rate (Initial): 6.76%Cap Rate (as of 9/1/15): 7.43%NOI (initial): $246,688NOI (as of 9/1/15): $262,106Building Size: 15,418 sq ftLand Size: 64,340 sq ft
Investment Summary Property Highlights Single Tenant NNN Investment Tenant is the largest guitar retailer in the US with 225 stores Pad site of Walmart Supercenter, Sam’s Club, and Petsmart Freestanding building built in 1995 Zoned C-2
Property Highlights
Demographics Population: 132,417 (5-mile radius) Average Household Income: $66,922 (5-mile radius) Intersection carries 63,000 cars per day
Demographics
Lease SummaryLessee: Guitar Center, Inc. Westlake Village, CaliforniaLease Term: 11 years remainingLease Commencement: July 15, 2005Rent Schedule: Years 1-5 $227,416 Years 6-10 $246,688 Years 11-20 $262,106Lease Options: Years 1-5 $311,636 Years 6-10 $323,778Landlord Responsibilities: Limited Scope - Roof, All plumbing and electrical (under & outside premises), foundation, slab, exterior walls, exterior surfaces of premises, structural walls, load bearing walls
Lease Summary
Financial HighlightsGross Scheduled Income: $246,699Expenses: $0 (NNN Lease)Net Operating Income: $246,699
Financial Highlights
Location
NWC I-70 & 291 Hwy., Independence, Missouri Located at the only entrance drive to Walmart Supercenter, Petsmart,
and Sam’s Club Across the street from Independence Center Mall, Bass Pro Shop, Target,
Macy’s, Sears, Costco, Lowe’s, Dillards, JC Penney, Dick’s Sporting Goods, and many others
The I-470 / I-70 retail corridor in eastern Jackson County (Independence) is considered to be one of the most active retail areas in metropolitan Kansas City. This regional power center area boasts over 3 million square feet of retail and is still growing. Independence, Missouri is the fourth largest retail market in Missouri, and is home to the new Bass Pro Shop located on a 180-acre lifestyle development featuring 850,000 sq ft of retail shops.
Location
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Tenant Information
Guitar Center Store, Inc. operates retail stores, which market musical instruments in the United States. They are the worlds largest retailer of guitars, ampli� ers, drums keyboards, recording, live sound, DJ and lighting equipment. They are also the largest direct response retailer of musical instruments in the United States through Musician’s Friend, Inc. a wholly owned subsidiary, and its catalog and Web site, www.musiciansfriend.com. In addition, the company’s Music and Arts division operates more than 100 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. Guitar Center Stores, Inc. was incorporated in 2000 and is based in Westlake Village, California
Guitar Center’s sister companies/subsidiaries incorporate Music & Arts Center, Musician’s Friend, Guitar Center.com, LMI, Giardinelli, Musician.com, Private Reserve Guitars, Woodwind and Brasswind and Harmony Central.
Guitar Center Stores, Inc. operates as a subsidiary of Guitar Center Inc., the largest chain of musical instrument retailers in the world.
Tenant Information UPDATE Wall Street Journal
April 2014: Ares Management LLC took a controlling stake in music-instruments retailer Guitar Center, part of a deal that converted some of the private-equity � rm’s debt in the retailer into equity, the retailer said. Bain Capital, Guitar Center’s former owner, retained partial ownership of the company, along with representation on the board. The Wall Street Journal reported in late February that Ares and Bain Capital were in the � nal stages of hashing out a deal to swap the Guitar Center debt that Ares owns into equity. Ares had owned the majority of Guitar Center’s debt. Guitar Center, a 250-store U.S. chain, had about $1.6 billion in debt, much of it stemming from Bain’s $2.1 billion leveraged buyout of the company in 2007. The company was due to pay about $144 million in annual debt payments through 2016 and about $150 million total in 2017 and 2018, according to recent quarterly securities � ling.
Under the new deal, Guitar Center’s total debt was reduced by about $500 million and its annual cash interest expense was cut by over $70 million. In addition to the debt-to-equity exchange between Ares and Bain Capital, Guitar Center said it completed a re� nancing of its remaining debt at a lower interest rate and providing greater � nancial � exibility.
Mike Pratt, the retailers chief executive, said the deal will provide it with the resources to expand its footprint and invest in its business.
Besides guitars, the retailer sells ampli� ers, percussion instruments, keyboards and audio and recording equipment in stores and online. It also o� ers repair services and rents out rehearsal and lesson space in many stores.
Standard and Poor’s as of April 2014 has upgraded their Credit Rating to BB+
UPDATE Wall Street Journal
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
3 9 t h S t r e e t 2 5 , 0 0 0 c a r s p e r d a y
Supercenter
I N D E P E N D E N C E CO M M O N S
I N D E P E N D E N C E C E N T E R
W E S T B O LG E RS Q UA R E
1 0 0 , 0 0 0 c a r s p e r d a y
2 0 , 0 0 0 c a r s p e r d a y
38,000 cars per d
ay
N
S I T E
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Neighboring Tenant Photos
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Supercenter
S I T E
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
LEEBLVD
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IndependenceIndependenceIndependenceIndependenceIndependenceIndependenceIndependenceIndependenceIndependence
Lee's SummitLee's SummitLee's SummitLee's SummitLee's SummitLee's SummitLee's SummitLee's SummitLee's Summit
RaytownRaytownRaytownRaytownRaytownRaytownRaytownRaytownRaytown
Mission HillsMission HillsMission HillsMission HillsMission HillsMission HillsMission HillsMission HillsMission Hills
LibertyLibertyLibertyLibertyLibertyLibertyLibertyLibertyLiberty
GladstoneGladstoneGladstoneGladstoneGladstoneGladstoneGladstoneGladstoneGladstone
MissionMissionMissionMissionMissionMissionMissionMissionMissionRoeland ParkRoeland ParkRoeland ParkRoeland ParkRoeland ParkRoeland ParkRoeland ParkRoeland ParkRoeland Park
North Kansas CityNorth Kansas CityNorth Kansas CityNorth Kansas CityNorth Kansas CityNorth Kansas CityNorth Kansas CityNorth Kansas CityNorth Kansas City
FairwayFairwayFairwayFairwayFairwayFairwayFairwayFairwayFairway
Sugar CreekSugar CreekSugar CreekSugar CreekSugar CreekSugar CreekSugar CreekSugar CreekSugar Creek
Pleasant ValleyPleasant ValleyPleasant ValleyPleasant ValleyPleasant ValleyPleasant ValleyPleasant ValleyPleasant ValleyPleasant Valley
RiversideRiversideRiversideRiversideRiversideRiversideRiversideRiversideRiverside
ClaycomoClaycomoClaycomoClaycomoClaycomoClaycomoClaycomoClaycomoClaycomo
Blue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue Springs
Lake LotawanaLake LotawanaLake LotawanaLake LotawanaLake LotawanaLake LotawanaLake LotawanaLake LotawanaLake Lotawana
Houston LakeHouston LakeHouston LakeHouston LakeHouston LakeHouston LakeHouston LakeHouston LakeHouston Lake
Unity VillageUnity VillageUnity VillageUnity VillageUnity VillageUnity VillageUnity VillageUnity VillageUnity Village
OaksOaksOaksOaksOaksOaksOaksOaksOaks
RandolphRandolphRandolphRandolphRandolphRandolphRandolphRandolphRandolphAvondaleAvondaleAvondaleAvondaleAvondaleAvondaleAvondaleAvondaleAvondale
Platte WoodsPlatte WoodsPlatte WoodsPlatte WoodsPlatte WoodsPlatte WoodsPlatte WoodsPlatte WoodsPlatte Woods
NorthmoorNorthmoorNorthmoorNorthmoorNorthmoorNorthmoorNorthmoorNorthmoorNorthmoor
Missouri CityMissouri CityMissouri CityMissouri CityMissouri CityMissouri CityMissouri CityMissouri CityMissouri City
56
24
24
69
69
5
70
70
9
A
45
635
169
169
35
35
435
435
1
152
350
350
71
71
210
210
291
78
78
470
470
269
7
7
40
40
70
39th Street & 291 HighwayIndependence, Missouri
May 2009
Lat: 39.0852 Lon: -94.4504 Zoom: 21.98 m
i Logos are for identification purposes only and may be tradem
arks of their respective companies.
©2009, SITES USA Inc., Chandler, AZ (480) 491-1112. All Rights Reserved.
This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
For information contact: John Cobb [email protected]
David Block [email protected]
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTSDemographic Source: Applied Geographic Solutions 08/2014, TIGER Geography page 1 of 1©2014, Sites USA, Chandler, Arizona, 480-491-1112
Thi
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SUMMARY PROFILE2000-2010 Census, 2014 Estimates with 2019 ProjectionsCalculated using Proportional Block Groups
Lat/Lon: 39.0476/-94.3673RS1
3911 Bolger Road1 mi radius 3 mi radius 5 mi radius
Independence, MO 64055
PO
PU
LATI
ON
2014 Estimated Population 6,895 50,489 132,417
2019 Projected Population 6,983 51,137 134,125
2010 Census Population 6,778 49,631 130,168
2000 Census Population 5,841 43,894 120,765
Projected Annual Growth 2014 to 2019 0.3% 0.3% 0.3%
Historical Annual Growth 2000 to 2014 1.3% 1.1% 0.7%
2014 Median Age 39.1 41.8 39.8
HO
US
EH
OLD
S2014 Estimated Households 3,161 21,863 55,491
2019 Projected Households 3,248 22,462 57,016
2010 Census Households 3,057 21,139 53,655
2000 Census Households 2,567 18,178 49,193
Projected Annual Growth 2014 to 2019 0.5% 0.5% 0.5%
Historical Annual Growth 2000 to 2014 1.7% 1.4% 0.9%
RA
CE
AN
DE
THN
ICIT
Y
2014 Estimated White 84.0% 86.6% 83.9%
2014 Estimated Black or African American 8.2% 6.2% 8.5%
2014 Estimated Asian or Pacific Islander 2.2% 2.0% 1.7%
2014 Estimated American Indian or Native Alaskan 0.4% 0.5% 0.5%
2014 Estimated Other Races 5.2% 4.8% 5.4%
2014 Estimated Hispanic 6.8% 6.0% 6.6%
INC
OM
E 2014 Estimated Average Household Income $64,386 $70,688 $66,922
2014 Estimated Median Household Income $53,692 $59,377 $55,836
2014 Estimated Per Capita Income $29,602 $30,678 $28,104
ED
UC
ATI
ON
(AG
E 2
5+)
2014 Estimated Elementary (Grade Level 0 to 8) 2.2% 2.4% 2.6%
2014 Estimated Some High School (Grade Level 9 to 11) 6.0% 6.8% 7.9%
2014 Estimated High School Graduate 33.4% 31.6% 33.0%
2014 Estimated Some College 26.8% 26.6% 26.4%
2014 Estimated Associates Degree Only 8.7% 6.2% 5.9%
2014 Estimated Bachelors Degree Only 16.0% 16.6% 15.0%
2014 Estimated Graduate Degree 6.9% 9.8% 9.1%
BU
SIN
ES
S 2014 Estimated Total Businesses 374 2,095 4,866
2014 Estimated Total Employees 5,698 24,538 49,311
2014 Estimated Employee Population per Business 15.2 11.7 10.1
2014 Estimated Residential Population per Business 18.4 24.1 27.2